A month after checking on his old Pimco colleague last September, the bond manager got an offer he couldn't refuse.
Cashing out your 401(k) is a bad idea at any age, but it can really hinder millennials and Gen X-ers from achieving their retirement goals.
Anxiety over a lack of liquidity is skewing fixed-income markets in new and surprising ways.
The firm sold about $18 billion of Total Return fund assets to other Pimco funds and accounts between October and March, helping it meet more than $100 billion of redemptions that followed Mr. Gross's surprise exit.
Fund's biggest position, at nearly 35% of the portfolio, is in mortgage-related securities; government debt cut to 8.5% of assets.
Money manager cites long-term relationship, experience and track record in making the switch.
Janus Capital said that Kumar Palghat, who worked with Mr. Gross at Pimco for 10 years, will help run the Janus Global Unconstrained Bond Fund, with Mr. Gross staying on as lead manager. Janus also bought a majority stake in Mr. Palghat's firm, Kapstream Capital.
The chairman of an Indian conglomerate is turning Kutsher's Country Club into a $250 million haven for affluent New Yorkers.
A look at the economic relationship of marriage following the Supreme Court decision making same-sex marriage legal in all 50 states.
The bond manager's call proved correct, but he admits his bet on a narrow trading range was not.
